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Updated over 8 years ago on . Most recent reply

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Eric G.
  • Investor
  • Miami Beach, FL
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Best way to pay a vendor from a distance?

Eric G.
  • Investor
  • Miami Beach, FL
Posted

Because I'm not local, I have been mailing checks to vendors & workers upon completion of jobs. However, many of them prefer to receive payment immediately upon completion and the mail takes a few days to arrive.

(I've used credit cards in the past but vendors typically don't want those fees...)

What are my options for paying them in a timely manner without incurring fees? 

Thanks!

Most Popular Reply

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Kuba F.
  • Real Estate Investor
  • Los Angeles, CA
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2,131
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Kuba F.
  • Real Estate Investor
  • Los Angeles, CA
Replied

@Eric G.  Some will accept wires, but then you get stuck with the fees depending on speed.  I prefer credit cards because then you can avoid having to send out 1099s.  Checks are the only fee-less ways I've used.  I've never had a problem with a vendor waiting a couple days though, most I've dealt with are comfortable with net 30-90 terms.

  • Kuba F.
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